Local Bankers Repurposed Again

Hamden: In the Spring of 2014 Bankwell headquartered in New Canaan then led by former First Alliance Bank CEO Peyton Patterson acquired the then two branch Quinnipiac Bank & Trust of Hamden.

Patterson had previously pulled together two community Farifield County banks and brought them together as Bankwell and then taking the company public. The Bankwell plan was a strategy similar to the one she engineered when merging the New Haven Savings Bank and the them [already public] Savings Bank of Manchester into New Alliance.

Patterson had hoped to use her knowledge and contacts in New Haven to expand Bankwell, and the first stop was the Quinnipiac Bank and Trust, co-founded by then CEO Mark Candido.

Just as the merger with Quinnipiac was completing Patterson was forced to leave the bank over some alleged personal financial irregularities. Bankwell’s expansion in greater New Haven appears to have come to a halt with Candido, Richard Barredo who had been the Executive Vice President and COO and Co-founder of Quinnipiac, and Anthony Rossely a long time local lender who was part of the Quinnipiac, to Bankwell lending team, exiting to Newtown Bank which has set up a commercial lending office called the NSB New Haven Regional Banking Center in Hamden at 2321

Newtown Savings Bank has more than $1 billion in assets, and has 14 branches in Newtown, Bethel, Brookfield, Danbury, Monroe, Shelton, Southbury, Trumbull, and Woodbury, along with its new Regional Lending Center.